China suspended on Tuesday the soybean import licenses of three U.S. firms and halted imports of U.S. lumber, stepping up retaliatory action after the United States imposed additional tariffs on Chinese goods.

The president signed an executive order to increase the possible supplies of timber and lumber and possibly lower housing and construction costs, according to senior administration officials.

In his third new tariff probe in a week, Trump signed a memo ordering Commerce Secretary Howard Lutnick to initiate a national security investigation into U.S. lumber imports under Section 232 of the Trade Expansion Act of 1962. The trade law is the one Trump also used to impose tariffs on global steel and aluminum imports.

Lumber futures rose to the highest in more than two and a half years after President Donald Trump ordered an investigation into shipments of the commodity into the US.

Donald Trump has ordered a probe into dumping in the US lumber market, setting the stage for the industry to join the widening basket of commodities targeted by Washington’s glo

President Donald Trump has recently ordered a new investigation into U.S. lumber imports, which might lead to higher tariffs on lumber from

U.S. lumber futures surged Monday to their highest since August 2022, rising as much as 3.5%, after President Trump ordered the Commerce Department to investigate the U.S. national security harm posed by lumber imports,